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6F (3)
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10-25-11 Packet
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6F (3)
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11/1/2012 12:31:03 PM
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10/21/2011 12:26:34 PM
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7) The parties understand that time is of the essence and all will proceed, in good faith, <br />toward finalizing the Development Agreement by February 28, 2012. <br />The purpose of this Memorandum of Understanding is to set forth the discussions that the <br />parties have had with one another to date with respect to the Rushton Apts. Because of the <br />Commission's appropriation procedures, the executed Memorandum of Understanding provides <br />merely a statement of the parties' mutual good faith intentions to proceed with the improvements <br />to the Rushton Apts. The terms of the final agreement shall be set forth in a Development <br />Agreement following the completion of SBHF's tax credit application procedures. <br />(Remainder of page intentionally left blank) <br />
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